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New Stock Listing | Feiruisu Innovation and Guomin Technology Both Open More Than 30% Higher
Two new stocks debut on their first trading day.
Fast Innovation (03355), a network solutions provider, opened at HKD 56, up 34.6% from the IPO price of HKD 41.6.
Guomin Technology (02701), a platform-based integrated circuit (IC) design company, opened at HKD 14.3, up 32.4% from the IPO price of HKD 10.8.
Fast Innovation raised approximately HKD 1.559 billion. The public offering was oversubscribed by 1,578 times, with a 1% success rate for the 100-share lot.
Guomin Technology raised approximately HKD 944 million. The public offering was oversubscribed by 130 times, with a 30% success rate for the 200-share lot.